Astro Info:: Moon posited in Hastha ruled by Moon
Outlook for 02.06.09:: Market expected to open better and remain so to become weak from 11.20am to 1.30pm and recover thereafter , particularly from 2.10pm to 3.10pm and remain subdued thereafter.
Trading strategy for the day :: Today is the best day for intraday traders. Since market is expected to open better , there may not be any buying opportunities in the opening. Overnight long positions may be sold in the opening or be kept with trailing stop loss till about 11.00am and in case to be liquidated by 11.15. Short positions can be initiated between 11.15 to 11.30am with day high as stop loss to be strictly closed by 1.15 – 1.30pm. Once again long positions can be initiated around 2.00pm with day low rates as stop loss to be closed by 3.00- 3.15pm.
PSU stocks are likely to be better while Telecom stocks could be subdued.
Advance out look for 3.6.2009 :: Market expected to open better and becomesubdued after 12.00pm and become further subdued after 2.00pm.
Technical Levels :: Nifty futures bullish above 4560 with resistance around4586,4609,4645 and 4675 and bearish below 4540 with supports around 4514,4490 and 4454for the day...
Trade only with stop loss..
Happy trading..
Dr. B Amaranath Sastry
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